Greggs Share Price Prediction June 2021 – Time to Buy Greggs Shares?
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Greggs Plc (LSE:GRG) is a renowned bakery chain in the UK that has headquarters in Newcastle upon Tyne. It is a common favourite among Brits with its savoury baked items like sausage rolls and sweet items like vanilla slices. Greggs is a member of the FTSE 250 and is also listed on the London Stock Exchange under the ticker code of GRG. This fast-food chain is known to be a part of the personal care sector.
Greggs Shares – Fundamental and Technical Analysis
The bakery chain’s total market capitalisation currently sits at £2585 million. Individual share prices closed at £2,563 with a 0.71% increase. According to its annual income statement, Greggs has seen a decline in net profit by £9.2 million entirely due to the second wave of the pandemic that affected all of the U.K. But as the situation has improved, experts believe that GRG share prices could see pre-pandemic highs. The company’s next earnings report is expected on August 3.
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Technical indicators including both oscillators and moving averages such as EMA (2557), SMA (2533), MACD (44), RSI (56), and Momentum (-11) signal a major BUY action. Therefore, investors that are ready to make the most out of the situation can choose to buy GRG shares to benefit in the near future once the market stabilises.
Recent Developments
Greggs is not just any other food on the go retailer but it has secured significant locations across Great Britain and more of a personal care market participants in the recent months. More than 800 of its local outlets have been running a successful delivery service in the U.K. that has caused quite a reassuring jump in sales in the past 8 weeks.
Several experts suggest that GRG shares would continue to improve from here on purely on the basis of its Like-for-Like sales reports. Last year’s negative impact started to disappear starting April 12 when non-essential retail was reopened in the U.K.
Why should investors be interested in buying Greggs Shares?
Investors who are still trying to make up their mind about buying GRG stocks should consider the following reasons:
- It is a publicly-listed company unlike many of its competitors partaking in the same market.
- GRG has shown a remarkable recovery in sales once the U.K. government announced easing lockdown restrictions.
- Greggs recorded net sales of £352 million in the past 8 weeks.
- Delivery sales by Greggs stand for 8.2% of the company-managed shop sales as of now.
- 18 weeks into 2021, Greggs opened more than 34 new shops and has more estate expansions underway.
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